The problem is it doesn't work.
History is littered with examples, many from this recent century. Sorry, the utopia promised only failed due to man's inherent corruptness.
Fun history lesson is to learn what happened to the Pilgrims. When they came to America they had all in common.
This produced failure. Complete failure and they almost died because of it! It was only when Bradford gave private property rights and introduced capitalism that the pilgrims started working. Before they were lazy, after they had incentive to produce and prosper.
Many Founding Fathers understood this and commented on it. Here is my favorite:
You cannot help the poor by destroying the rich.
You cannot strengthen the weak by weakening the strong.
You cannot bring about prosperity by discouraging thrift.
You cannot lift the wage earner up by pulling the wage payer down.
You cannot further the brotherhood of man by inciting class hatred.
You cannot build character and courage by taking away men's initiative and independence.
You cannot help men permanently by doing for them, what they could and should do for themselves.
~Abraham Lincoln
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